Samsung, LG and Pantech And More Fined $40 million in Korean Price Fixing

Mar 16, 2012 18:17

The Korean government has found mobile phone makers LG, Samsung and Pantech, in addition to operators KT, SK Telecom and LG Upius guilty of price fixing.

The OEMs reportedly inflated the associated costs of handsets, which were then marketed with supposed discounts by the colluding carriers. Collectively the group's been ordered to pay about 45.3 billion won (or $40.2 million) in fines.

The largest penalties belong to Samsung at 14.2 billion won ($12.6 million) and SK Telecom at 20.2 billion won ($18 million). Read more at the source links below:

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